MiniMax completes HKD 16 billion equity financing

On the morning of July 10, MiniMax completed a new round of financing of HK$16 billion, with participation from multiple international sovereign funds, long-term funds, Chinese-funded institutions, and multi-strategy funds, covering the Asia-Pacific, European, and US markets. This transaction attracted over 100 institutions in total, achieving a 7-times subscription coverage. The initial offering size was approximately US$1.8 billion, which was finally expanded to over US$2 billion driven by institutional demand. (Securities Times)